Providence Gold Mines Surface sample results Over 10 grams of gold
July 20, 2021 – TheNewswire – Providence Gold Mines “the company” (TSXV: PHD) (OTC: PRRVF) (FSE: 7RH1) is pleased to report that a rock sample found across the Bonita Mine Creek returned 10 grams Au / tonne. Further work is underway to locate the source.
Carbonate-sericite alteration efflorescence and quartz veins have been discovered on the north side of Duckwall Creek and are the potential twin of the Bonita Gold ore deposit. A high grade selected sample returned> 45 g / tonne Au from a small pile of rock well above the flood plane on this north side. The projected northward extension of the Bonita vein is located in a recessive topographic feature that forms the steep north side of this drainage extending to the top of the ridge.
The rock samples were transported and tested by Bureau Veritas Minerals of Vancouver, British Columbia, using a pyrotechnic test fusion collecting 30g of lead for total digestion of the samples with AA finish. As the sample returned Au> 10 ppm (10 g of Au), it is being analyzed by the gravimetric method.
In addition, the current field program has made another new discovery of vein outcrops. During a downward crossing of the McCarthy mine, the Lode zone plunges steeply to the northeast and has an actual width of about one meter. The area appears to be longitudinal between the McCarthy and Fairplay mines. A sample channel will be sent to Bureau Veritas for analysis this week.
A photo of the Lode area
The Company reports following its press release dated On June 7, 2021, the excavator contractor “Spidex” arrived on site yesterday. The goal of the excavation program is to dig trenches and sample the recently announced gold discoveries on its Providence Group of Gold Mines property located near the town of Sonora, California.
Dr. Lee Groat Ph.D., P.Geo is the qualified person of the Company (as defined in NI 43-101 and has read and approved the technical information contained in this press release). Mark Payne P.Geo is registered in the State of California and works under the direct supervision of Lee Groat QP.
ON BEHALF OF THE BOARD
Ronald Coombes, President and CEO
FOR MORE INFORMATION PLEASE CONTACT: Ronald Coombes
Office: (604) 688-8200
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All statements, trend analyzes and other information contained in this market-related press release concerning anticipated future events or results constitute forward-looking statements. All statements, other than statements of historical fact, included herein, including, without limitation, statements relating to the licensing process, future production of Providence Gold Mines, budget and schedule the Company’s estimates, working capital and financing opportunities and statements regarding the exploration and mineralization potential of the Company’s properties are forward-looking statements. Forward-looking statements are subject to business and economic risks and uncertainties and other factors that could cause actual results of operations to differ materially from those contained in forward-looking statements. Significant factors that could cause actual results to differ materially from Providence Gold Mines’ expectations include fluctuations in commodity prices and exchange rates; uncertainties relating to the interpretation of drilling results and the geology, continuity and grade of mineral deposits; the need for cooperation from government agencies and Aboriginal groups in the exploration and development of properties and the issuance of required permits; the need to secure additional financing to develop properties and the uncertainty over the availability and terms of future financing; the possibility of delays in exploration or development programs and uncertainty about meeting planned program milestones; and uncertainty about the timely availability of permits and other government approvals. Forward-looking statements are based on estimates and opinions of management as of the date the statements are made. Providence Gold Mines assumes no obligation to update forward-looking statements, except as required by applicable securities laws. Investors should not place undue reliance on forward-looking statements.
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